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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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Ness Construction Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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for |
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Ness Construction Limited |
Ness Construction Limited (Registered number: SC049610) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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Ness Construction Limited (Registered number: SC049610) |
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Balance Sheet |
31 March 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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Ness Construction Limited (Registered number: SC049610) |
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Balance Sheet - continued |
31 March 2018 |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Ness Construction Limited (Registered number: SC049610) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Ness Construction Limited is a private company, limited by shares, domiciled in Scotland, registration number |
SC049610. The registered office is Unit 2 Bishopgate Business Park, 189 West Main Street, Broxburn, West |
Lothian, EH52 5LH. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of services in respect of property letting, excluding value added tax. |
Sales are recognised at the point at which the service is complete. |
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Tangible fixed assets and depreciation |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any |
incidental costs of acquisition. |
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The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all |
tangible fixed assets are depreciated to nil value. |
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In accordance with the rules in relation to the transition to FRS 102, the company has taken the opportunity to |
treat the most recent revalued cost as the original cost. The revaluation reserve has been transferred to the profit |
and loss reserve and there will no longer be regular revaluation of property. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Ness Construction Limited (Registered number: SC049610) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Provisions |
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is |
probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably |
estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time |
value of money is material. |
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Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is |
determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of |
an outflow with respect to any one item included in the same class of obligations may be small. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2017 - 2 ). |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2017 |
and 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2017 |
and 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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6. | STOCKS |
31.3.18 | 31.3.17 |
£ | £ |
Work-in-progress |
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Ness Construction Limited (Registered number: SC049610) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade debtors |
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Amounts owed by related parties |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | RELATED PARTY DISCLOSURES |
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At the year ended 31 March 2018, Ness Construction Limited was owed £113,778 (2017: £113,778) from |
Bishopsgate Scotland Limited. |